By Morenike Taire

In today’s rapidly shifting global economy, the role of a Chief Executive Officer is no longer defined solely by corporate oversight or profit targets. It is a responsibility that demands vision, emotional intelligence, resilience, and the ability to inspire large systems of people toward sustained success. Yet, according to leading management strategist and McKinsey Partner, Ricky Asemota, too many leaders especially in emerging markets are thrust into this role with limited structured preparation.

Asemota, who has spent more than 15 years advising Fortune 500 companies and major public institutions across continents, has become one of the strongest voices calling for a formal leadership development pathway for CEOs in Africa. Her view is clear: The continent’s growth potential will remain constrained unless its executive leadership capacity is strengthened deliberately, strategically and urgently.

“The CEO role is uniquely demanding and incredibly lonely,” she began. “Most leaders are not apprenticed into that chair. They rise through executive ranks and suddenly are expected to perform flawlessly to know everything, manage everything, inspire everyone and deliver results from day one. That’s an unrealistic expectation without structured development.”

Over the years, she has led multi-country transformation programmes, guiding organisations through digital adoption, operational restructuring and strategic shifts. The results are measurable: over $200 million in EBITDA uplift across corporate portfolios and cost reductions consistently above 25 per cent. Yet, beyond the numbers and performance metrics, her focus today is grounded more in human capacity and leadership foresight than spreadsheets and technology charts. She speaks with Ebunoluwa Sessou on why it is necessary to groom world class leaders.

“We can put all the systems and technology in place, but without capable leadership, transformation does not sustain. People lead strategy not the other way around.

“As markets experience volatility, as digital disruption accelerates, and as the continent’s economy becomes more integrated into global competition, the demands on business leaders continue to evolve. 

“Chief executives are expected to navigate technology shifts, manage rising stakeholder expectations, inspire diverse and expanding teams, and work productively with regulators and boards, and balance long-term vision against short-term pressure.

“McKinsey’s study of over 2,500 global CEOs points to a critical insight: world-class leaders excel across six essential dimensions. They set bold ambition rather than incremental goals. They align their organisations deeply behind a shared vision, ensuring true ownership, not just awareness. They mobilise leadership at every level, building strong, collective execution capacity rather than relying on exceptional individuals alone. 

“They maintain strong partnership with their boards, viewing them as strategic allies instead of compliance authorities. They actively engage stakeholders, from regulators to employees and customers. And above all, they invest heavily in managing themselves, protecting their energy, mindset and clarity.

“You cannot pour from an empty cup. The highest-performing CEOs protect their energy and mental discipline. They lead intentionally, not reactively.

“Many CEO tenures falter not because leaders lack talent but because they lack breadth and structure in their leadership development. “Most CEOs are excellent in one or two areas perhaps strategy or operations but significantly underdeveloped in others. 

“Unfortunately, the CEO role does not forgive imbalance. Weakness in people leadership, culture, stakeholder management or self-management eventually shows up in performance.

 “A high-growth technology organisation collapsed because leadership did not invest in building its people. Another struggled because the CEO did not actively engage the board. Leadership gaps are costly not only for shareholders but for staff, communities, and economies.

“To bridge these gaps, McKinsey is launching the McKinsey Center for CEO Excellence in Africa.We are unapologetically convinced that Africa needs a school for CEOs. Leadership is too important to be left to trial and error. We must prepare leaders with the same seriousness that we train surgeons or pilots.

“The centre will serve as a platform for developing current and emerging executives, offering research-backed learning, mentorship from global business leaders and practical workshops focused on disciplined execution. Our goals are simple; equip African CEOs to compete and excel on the global stage. We must grow beyond survival leadership to visionary leadership.

“Many workplaces operate under environments defined by fear rather than inspiration. A culture of fear is not leadership. It is insecurity masked as authority. When people are afraid, they stop thinking creatively, they stop challenging assumptions, and they stop taking risks. Innovation dies.

“A CEO who rules through fear will have obedience, but never excellence. Leaders must diagnose culture scientifically and invest deliberately in changing behaviours not through slogans but through example.

“In organisations where blame is the norm, employees avoid risks, retreat into silence and guard themselves. Creativity and experimentation disappear. Innovation stalls. Transformation becomes impossible.

“Before attempting any transformation, leadership must invest in diagnosing the current cultural reality. We conduct organisational health surveys to examine accountability, ownership, collaboration, psychological safety and more. Do people feel empowered? Or are they afraid and defensive?”

“Rather than attempting to overhaul culture all at once, she stressed the need to prioritise a single behavioural shift that could catalyse broader change. Citing Microsoft, she noted how a focus on curiosity and growth mindset fundamentally reshaped the organisation’s culture and performance.

“Companies do not fail because they lack ideas. They fail because they do not execute. Strategy without disciplined execution is wishful thinking.

“With a young population, evolving markets and rising global attention, leadership quality will determine whether the continent scales new heights or misses another opportunity. We have talent. We have ambition. What we must now build is leadership structure, development platforms, mentorship pipelines, and institutional excellence. African CEOs can match and outperform global peers. We simply need to invest in them deliberately.

“Leadership is stewardship. It is not a title. It is responsibility for lives, livelihoods and futures. If we get leadership right, everything else shifts – business performance, innovation, competitiveness and social progress.

“As Africa positions itself for economic transformation, progress will be shaped not just by technology, capital or policy reforms, but by prepared leaders who possess courage, clarity and competence. African CEOs must not only rise, they must lead at world-class levels. Our future depends on it.

“Fear may enforce obedience, but it cannot fuel excellence. True performance emerges when people feel safe to innovate, to challenge, to build and to believe in what they are working toward.”

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